Tim Hutter sayslandlords should consider property management procedures and assetrehab plans.
SACRAMENTO—The Tenant Protection Act of 2019/AB 1482 took effecton January 1, 2020 and will affect many landlords and tenants ofresidential property across the state. AB 1482 will requirelandlords of all types from institutional to individual tocarefully consider property management procedures, assetrehabilitation plans and even corporate ownership structures.
Although certain properties and owners are exempt, Californiaresidential landlords could be impacted in two significant ways,says Tim Hutter, Allen Matkins attorney. There is now a percentagelimit imposed on annual rent increases (capped at 5% of the grossrental rate plus the change in cost of living, and not to exceed10%) as well as a just cause requirement for terminating tenantswho have occupied a property for 12 months or more.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
